As part of a broader effort to address climate change, President Biden issued two executive orders (EOs) that call for the review of existing leasing practices for federal lands and temporarily prevent new oil and gas leases on federal lands and in offshore waters. In a new insight, AAF’s Director of Energy Policy Ewelina Czapla provides an overview of the EOs and notes that it is not clear if or when lease sales will resume.

An excerpt:

By calling for various review processes, President Biden’s EOs create uncertainty around the future of federal leasing for oil and gas production. Only when the Department of the Interior’s reviews are completed will there be some clarity on where lease activity may continue and what royalties may look like.

Read the insight.